Accounting Paper 2 0452/2... Expected Areas

[oahmed64]

when they say "debenture interest accrued"

ASSET (PREPAID BY ME OR ACCRUED TO ME) LIABILITY (PREPAID BY OTHER OR ACCRUED BY ME)

--- + in expense account



and opposite in income account right ?

 

[Shakeel Rafi]

ASSET (PREPAID BY ME OR ACCRUED TO ME) LIABILITY (PREPAID BY OTHER OR ACCRUED BY ME)

--- + in expense account



and opposite in income account right ?

I did not get you
????

but any xpense debit to its account
and is deducted from gross profit (xpense)

 

[oahmed64]

for example when they say that subscription is owin $50 at the end and prepaid $20 at the beginning what do i add or substract to subscriptions

 

[Shakeel Rafi]

for example when they say that subscription is owin $50 at the end and prepaid $20 at the beginning what do i add or substract to subscriptions

ohh

for this question you have to subtract both

 

[Shakeel Rafi]

for example when they say that subscription is owin $50 at the end and prepaid $20 at the beginning what do i add or substract to subscriptions

but the usual question comes

an income accrued:
rent accruals at beginning $40
rent Accruals at end $90
rent received $500

in this case
500+90-40
=$550

usually
yo have to add the closing and minus the opening